In the new issue of Regulation, economist Pierre Lemieux argues that the recent oil price decline is at least partly the result of increased supply from the extraction of shale oil. The increased supply allows the economy to produce more goods, which benefits some people, if not all of them. Thus, contrary to some commentary in the press, cheaper oil prices cannot harm the economy as a whole.

Two long wars, chronic deficits, the financial crisis, the costly drug war, the growth of executive power under Presidents Bush and Obama, and the revelations about NSA abuses, have given rise to a growing libertarian movement in our country – with a greater focus on individual liberty and less government power. David Boaz’s newly released The Libertarian Mind is a comprehensive guide to the history, philosophy, and growth of the libertarian movement, with incisive analyses of today’s most pressing issues and policies.

Senator Chuck Hagel has been one of the most consistent and outspoken critics of the Bush administration’s policies in Iraq. As a combat veteran, a foreign policy expert, and a leader who has visited Iraq five times, Senator Hagel is one of the most respected voices on foreign policy in Congress. Hagel had some choice comments about the Bush White House’s attitudes with respect to Congress’s role in shaping foreign policy.